MUMBAI: Three years after setting up a committee to offer advice on the development of alternative investment and start-up ecosystem, markets regulator Securities and Exchange Board of India (SEBI) has now overhauled the panel for undisclosed reasons.
According to the markets watchdog, the Alternative Investment Policy Advisory Committee will now be chaired by Infosys Technologies co-founder N R Narayana Murthy.
The expert panel will also include 22 other members, comprising chief executives of private equity firms, venture capital firms, government representatives and officials of SEBI and Reserve Bank of India (RBI).
It may be noted that the markets regulator had first constituted the committee in March 2015 with the mandate to prepare a new regulatory framework for alternative investments and the panel has submitted three reports so far.
Apart from developing an alternative investment and start-up ecosystem, the panel will advice the regulator on hurdles hindering the development of the alternative investment industry under its purview.
Further, the committee will also suggest SEBI on issues that need to be taken up with other regulators for development of the alternative investment industry. Some of the committee members include Carlyle Group India MD Devinjit Singh, TVS Capital Funds Chairman and MD Gopal Srinivasan, Kedaara Capital Advisors LLP Managing Partner Manish Kejriwal, and Indian Private Equity and Venture Capital Association President Rajat Tandon.
Besides, the panel has also roped in members like Gaja Capital Managing Partner Gopal Jain, Avendus Capital Alternate Strategies CEO Andrew Holland and Small Industries Development Bank of India Deputy Managing Director Ajay Kumar Kapur.
Role revision
■ SEBI had set up the Alternative Investment Policy Advisory Committee in March 2015 to prepare new regulatory framework for alternative investments
■ The panel will now advise on hurdles hindering development of alternative investment industry